10 Things You Should Know Before You Bid On A Business Product From An Online Auction

1. Know the value of the product before you bid. Ifthe product is brand new, check to see what priceretailers are charging for it. If the product is used orreconditioned, you will want to pay way less than theretail value

2. If the product's description or picture isn't detailedenough for you, contact the merchant to get moreinformation before you bid. You don't want to take achance to waste your hard earned money.

3. Know the highest price you will bid for the productand stick with it. Don't get caught up in a bidding war;you may end up paying more than the product's worth.Don't forget to add in the shipping price with your bid.

4. Visit a few online auctions before bidding becausesome merchants auction the same product in manyauctions. You usually can purchase the product fora lower price in a unpopular auction because thereare less bidders.

5. Know the time the auction begins and ends. Youalso want to know how long it will take to ship. Ifyou need the product by a certain date, you'll wantto estimate the time it will take to receive it.

6. Know the payment options the merchant acceptsbefore you bid on their product. If they only acceptchecks or money orders, it may take even longer toget the product because the payment has to clear. Ifthey accept credit cards make sure they have a secureserver.

7. Know if the merchant offers a warranty or moneyback guarantee or before bidding on a product. Youdon't want to get stuck with a product that does notwork or you're not satisfied with.

8. Online auctions will, sometimes, allow you to checkthe merchants history with their auction. Check to seeif people have complained about the their products orbusiness practices before you decide to bid.

9. It's important to place a bid early in the auction toshow other bidders you are interested in the product.If someone does out bid you, don't be afraid to outbid them. Remember not to go over your maximum bid price.

10. Another reason to know when the auction ends;you can place a last minute bid. The other biddersmay not be keeping track of when the auction endsor may not have the time to bid again.